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USDCAD Pushing Session Lows Despite CAD Lagging Peers

CANADA
  • USDCAD continues to push to session lows, latest 1.3346 (-0.7%), having pushed through the second support of the day at 1.3358 (Feb 16 low). It sits close to 1.3334 (Feb 15 low) but with firmer support in mind at 1.3262 (Feb 2 low).
  • Front end GoCs have continued to extend underperformance to Tsys (2YY +4.6bps vs -2.1bps) through the session ahead of the upcoming 2Y auction but that doesn’t stop CAD lagging other risk sensitive peers on the day (with CAD +0.7% vs the USD compared to +1.3-1.4 for the Antipodeans, NOK)

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